Funding arb · Price arb /

PRL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0564%/8h= −61.8% APRpaid last 24h −0.151%

Price spread now: Bitget against Extended−0.056%7-day average −0.032% · you buy dearer than you sell

Net, funding: paid 7d − costs−$233as in the Funding arb table

Net, price: spread back to 7d avg − costs−$213as in the Price arb table

costs, in and out, $10k−$2102.102% of the position

Long on Extended Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days−0.228%−$23 on $10k

Price spread, last 4 days (all we have)−0.005%−$1 · spread now −0.056%, 7d avg −0.032%

Together, before fees−0.234%+ Points / potential airdropExtended: Active · farm board−$23 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$17 a day on $10k at the current rate, and Bitget is 0.024% cheaper against Extended than usual: you would sell low and buy high (−$2 if the spread goes back to its 7-day average of −0.032%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.228% in total (about -11.9% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended PRL-USD	0.1177	0.0664	pay 0.0083% / 1h	5m 06s	$6K	$149K	5x
Short	Bitget PRLUSDT	0.1176	0.0100	get 0.0050% / 4h	5m 06s	$849K	$415K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against Extended. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee ExtendedbpFee BitgetbpOrdersPrice spread, now −0.056%Rate

Funding earned: −$118.44
Price spread: −0.056% → −0.032%: −$2.43
Slippage, 4 orders: −$193.17
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$331.04
Costs to cover: 2.102%
Break-even: never at this rate

Slippage from Extended: live order book, 51 min ago; Bitget: live order book, 51 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy Extended live order book, 51 min ago	5.55 bp	72.1 bp −$72	496.2 bp −$4,962	doesn't fit	doesn't fit
Sell Bitget live order book, 51 min ago	12.79 bp	36.9 bp −$37	256.2 bp −$2,562	doesn't fit	doesn't fit

PRL on 13 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget PRLUSDTshort	+0.0100%	4h	0.1176	−0.056%	$849K	$415K	20x
SunX PRL-USDT	+0.0100%	4h	0.1175	−0.141%	$2K	$1.1M	20x	as long as short
Gate PRL_USDT	+0.0108%	4h	0.1178	+0.114%	$99K	$65K	20x	as long as short
KuCoin PRLUSDTM	+0.0560%	4h	0.1177	+0.029%	$1.5M	$252K	20x	as long as short
Bybit PRLUSDT	+0.0604%	4h	0.1176	−0.056%	$733K	$579K	25x	as long as short
BingX PRL-USDT	+0.0650%	4h	0.1177	+0.029%	—	$1.6M	—	as long as short
BloFin PRL-USDT	+0.0655%	4h	0.1179	+0.199%	$139K	$14K	25x	as long as short
Extended PRL-USDlong	+0.0664%	1h	0.1177	long leg	$6K	$149K	5x
Binance PRLUSDT	+0.0666%	4h	0.1177	+0.029%	$2.1M	$2.4M	20x	as long as short
MEXC PRL_USDT	+0.0670%	4h	0.1177	+0.029%	$461K	$175K	20x	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster PRLUSDT	+0.0759%	4h	0.1174	−0.186%	$5K	$1K	5x	as long as short
Coinbase International PRL-PERP-INTX	+0.0840%	1h	0.1169	−0.679%	$17K	$12K	50x	as long as short
Deribit PRL_USDC-PERPETUAL	+0.2194%	1h	0.1177	+0.027%	—	—	10x	as long as short